As a first time landlord, you want to make sure that everything you do is correct. Not only do you want to protect your property and investment, you also want to make sure you are fulfilling your duties and remaining legal in the process. The following are a few legal pitfalls to avoid when you are new to the landlording business.
Pitfall #1: Generic lease
It's relatively simple to go online and download a generic lease form, but this can be a mistake.
In a commercial setting, you have to rely on the skills and services offered by an array of professionals, and a locksmith is likely one of them. While most commercial business owners only consider locksmith services when they need a lock replaced or a key made, these trained professionals have much more to offer in a business setting. As a business owner, it is a good idea to get familiar with some of the lesser-known services offered by commercial locksmiths, since you never know when you may need them.
Getting approval and signing the final papers to move into a condo in the city is exciting. Once you finally settle into your luxury condo, you may find that life changes somewhat. You are likely to run into more neighbors, you will be in one of the nicest areas of towns, and your home will be well built. There are some ways that living in a luxury condo can subconsciously change you as well.
Starting a family is one of the first things that couples do when they get married and buy a house that they plan on living in for a long time or possibly for as long as they live. It is best to go into the home buying process knowing that you will be trying for a baby shortly after moving in. This will give you natural necessities such as a spare bedroom or two to guarantee a bedroom for your child.
After purchasing a house, you can easily update the flooring, paint the walls, and make a host of other aesthetic changes to transform the space into something you love. However, there are a host of things that may be quite challenging, if not impossible, to change. Make sure you know what to look for. Make sure you know what not-so-easy-to-fix factors you should be focusing on.
If you walk into a potential property, and you are greeted with a foul odor, take heed.